All the action of the United Kingdom this week will concentrate on Thursday. It is when we will see both the next delivery of salary data from the United Kingdom and the MPC meeting of the Bank of England, says Chris Turner, FX Analyst of ING.
The market includes 53 basic points of BOE feat cuts this year
“With regard to the above, the consensus expects little margin for the BOE to become more moderate, since the salary growth of the private sector is expected to remain above 6% annualized to three months. And there should be no great change in communication at the BOE meeting, where we expect a 6-3 vote in favor of maintaining the rates unchanged.”
“Currently, the market includes 53 basic points of BOE feat cuts this year. Our opinion is 75 basic points. And a possible catalyst for this moderate revaluation is the spring declaration of the next week of the Chancellor of the United Kingdom, Rachel Reeves. Strict seems to be bassist for the sterling pound next week. “
“With the dollar also fragile, any weakness of the sterling pound could be faced with the euro or the Japanese yen, since investors opt for a defensive positioning in shares before the next increase in US tariffs. In April. From levels close to 193 today, the GBP/JPY could fall again to the 187 area in the coming weeks.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
